BitGo Holdings, a leading cryptocurrency custody provider, has officially launched its initial public offering (IPO) in the United States, signaling a major step in its expansion as a regulated financial services company. The IPO filing with the US Securities and Exchange Commission (SEC) outlines plans to raise up to $201 million while targeting a valuation of nearly $1.96 billion.
The offering will consist of 11 million new shares of Class A common stock issued by BitGo, along with 821,595 shares from existing stockholders, totaling roughly 11.8 million shares. Based on the proposed price range of $15 to $17 per share, the IPO could generate proceeds up to $201 million.
Since its founding in 2013, BitGo has grown to hold more than $90 billion in assets under custody, serving institutional clients with secure cryptocurrency storage solutions. The company has engaged top US banks, including Goldman Sachs as lead underwriter and Citigroup as co-lead, along with a consortium of other major investment banks and co-managers to oversee the offering.
BitGo emphasized that the registration statement has been filed but is not yet effective, meaning shares cannot be sold nor purchase offers accepted until SEC approval.
The IPO represents a significant milestone for institutional crypto infrastructure, allowing BitGo to strengthen its market position while providing investors with regulated exposure to the growing digital asset custody sector. The move underscores the increasing mainstream integration of crypto services within traditional finance.
Disclaimer
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